Farmers ‘have lost €67m in slump’

The Irish Creamery Milk Suppliers Association estimates that beef farmers have lost some €67 million in potential revenue as a result of the downturn in prices in recent months.

Beef Committee chairman John O’Leary said the short-term strategy adopted by meat processors of cutting prices at every opportunity is inflicting serious damage to the sector’s long-term future.

“Losses on that scale, where input costs and regulation are increasing, are simply not sustainable and are leading to an absolutely disgraceful income situation facing beef producers,” he said.